Tag Archives: 3.) Swiss Banks

Despite banks, broadly speaking, having a banner year in 2020 as central-bank-liquidity more-than-washed over the losses due to COVID and policy restrictions, banker bonuses have come under pressure. In Europe, the picture is more uncertain as banks’ performance has been mixed. Credit Suisse wound up reducing its bonus pool by about 7%. Back in December 2020, Credit Suisse CEO Thomas Gottstein blamed the cuts on social responsibility, stating that “it’s too early to...

EUROPEAN BANKS’ fourth-quarter earnings, releases of which are clustered around early February, have been surprisingly perky. Those with trading arms, such as UBS or BNP Paribas, rode on buoyant markets. State support helped contain bad loans; few banks needed to top up provisions. Markets should keep them busy and, as the economy recovers, loan volumes should rise. Many banks plan to resume dividends this year. Yet the chronic illness that has dogged the industry...

Zurich, 1 February 2021 – UBS has successfully completed the pilot phase of its new multibanking function and is now gradually rolling out the offering across Switzerland. UBS Multibanking will now also give SMEs full transparency over all their accounts and allow them to execute payments debited from accounts with third-party banks directly in UBS E-Banking. UBS is the first and so far the only Swiss bank to offer such a comprehensive payment function. Andy...

On Saturday, we showed why according to observations from Credit Suisse and BofA, the “US Economy Is Set To Overheat As Households Are Flooded With $2 Trillion In Excess Savings.” Then, in a note this morning from Morgan Stanley asking “What To Do About All This Optimism” the bank said that “in November, December and now January, no question or concern has come up more often than ‘everyone is optimistic’.” Finally, the latest Fund Managers Survey showed that...

Zurich/Basel, 15 January 2021 – The UBS Board of Directors announced today that Beatrice Weder di Mauro is not standing for re-election to the Board of Directors of UBS Group AG and UBS AG. She has informed the Board of her decision to step down after serving since 2012. UBS Chairman Axel A. Weber: “We will miss Beatrice’s experience and expertise in international economic and financial matters. She has consistently provided important insight to the Board and to me...

Zurich, 30 September 2020 – The UBS Global Real Estate Bubble Index, a yearly study by UBS Global Wealth Management’s Chief Investment Office, indicates bubble risk or a significant overvaluation of housing markets in half of all evaluated cities. Prices increased on average, with Europe showing most cities at risk The Eurozone stands out as the region with the most overheated housing markets. Munich and Frankfurt top the ranking. Paris and Amsterdam...

Zurich, 09 September 2020 – Art Basel and UBS today published a 2020 mid-year survey ‘The Impact of COVID-19 on the Gallery Sector’ written by renowned cultural economist Dr. Clare McAndrew, Founder of Arts Economics. The survey findings present an analysis of how the COVID-19 pandemic has impacted 795 galleries operating in the Modern and contemporary gallery sector, representing 60 different markets across all levels of turnover, throughout the first six months of...

Significant majority of men and women believe women need to be equally involved in long-term financial decisions to achieve true gender equality, yet half of women let their spouses take the lead COVID-19 has worsened inequalities, with women more focused on household duties and men more focused on finances Despite pre-marital intentions, millennial women are most likely to defer financial decisions to their spouses New York, July 6, 2020 – According to UBS Global...

Zurich, June 24 2020 – UBS is investing in Rockefeller Asset Management’s Global Environmental, Social and Governance (ESG) Equity fund, broadening the sustainable investment opportunities that it offers to clients. UBS, the world’s largest global wealth manager, has allocated directly to the fund through its 100% sustainable multi-asset portfolio, which surpassed USD 10 billion in size earlier this year. The fund is also available to UBS Global Wealth Management...

Two days ago, when a platoon of clueless CNBC hacks said that stocks were extremely undervalued, and must be bought (on their fundamentals, not because the Fed was about to nationalize the entire bond market and is set to start buying equity ETFs in the next crash), we showed just how “undervalued” the market was. That’s when Credit Suisse chief equity strategist Jonathan Golub – usually one of the most bullish Wall Streeters – published a chart showing that any...